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- DWF Labs transferred 2 million CRV tokens from Binance to their on-chain wallet.
- Curve DAO Token saw a decrease of more than 4.25% in the past 24 hours.
DWF Labs, a global digital asset market maker, has disclosed that the company moved a substantial quantity of the Curve DAO Token (CRV) from Binance, the largest cryptocurrency exchange worldwide. Following these transactions, CRV has witnessed a notable increase of over 5%.
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DWF Labs(@DWFLabs) withdrew 2M $CRV($972K) from #Binance 40 mins ago.https://t.co/ufyoilyFq8 pic.twitter.com/bohHiL4cmk
— Lookonchain (@lookonchain) August 29, 2023
Andrei Grachev, the leader of DWF Labs, indicated that the firm has withdrawn 2 million CRV tokens from the Binance exchange to their on-chain wallet. Additionally, he noted that the firm is engaged in inventory management and plans to return the tokens to the Binance exchange in the future.
After the transaction, the Curve DAO Token experienced a significant rise of approximately 5%, bringing the price to $0.4949. This notable increase in CRV has attracted the attention of the broader cryptocurrency market. However, the upward trend was short-lived, as the CRV token subsequently reverted to a downtrend.
As of the time of this report, the Curve DAO Token is trading at $0.4596, reflecting a decline of over 4.25%. Nevertheless, the daily trading volume has surged by 125.14%, according to CoinMarketCap.
